“As the cost of goods environment settles, we expect the transformation of our profit mix to be even more pronounced, and we're confident in a return to operating income growth more consistent with the multiyear trend.”

In context

“This aligns with our financial framework, of operating income growing faster than sales, and we're especially pleased in this uncertain backdrop that we can grow share at an accelerated pace while growing OI ahead of sales. We have, of course, hoped to deliver better results but feel it's prudent at this point in the year to preserve maximum flexibility. Like you, we continue to monitor customer and member behavior, on a day-to-day and week-to-week basis alongside tracking macro indicators such as CPI, job growth, and wage growth. We know from history. That when Walmart Inc. leans into these moments of uncertainty, we emerge stronger on the other side. Driving share gains this year positions us well for sustained sales growth momentum and stronger omnichannel advantages into future years. As the cost of goods environment settles, we expect the transformation of our profit mix to be even more pronounced, and we're confident in a return to operating income growth more consistent with the multiyear trend. We appreciate your interest in our company, and are now ready to take your questions. Operator: Thank you. We'll now be conducting a question and answer session. If you'd like to ask a question at this time, please press 1 on your telephone keypad. You may press 2 if you'd like to withdraw your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. So we may address questions to as many participants as possible. We ask that you please limit yourself to one question. Thank you. And our first question today comes from the line of Simeon Gutman with Morgan Stanley. Please proceed with your question. Simeon Gutman: Good morning and thank you. I have a two-part question. First part is the top line is impress”